Hungary Industry December 2016

Hungary: Growth in industrial output accelerates in December

February 7, 2017

According to preliminary data released by the Statistical Institute (KSH) on 7 February, industrial output accelerated from a working-day adjusted 0.7% annual expansion in November to 1.9% in December.

On a monthly basis, industrial production decelerated from a seasonally- and working-day adjusted 0.8% increase in November to 0.5% growth in December. The overall trend continued to point downward as annual average growth in industrial production nosedived from 1.2% in November to 0.8% in December, marking the lowest reading in over three years.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.8% in 2017, which is down 0.2 percentage points from last month’s projection. For 2018, the panel expects industrial output to expand 4.9%.

According to revised data released by the Statistical Institute (KSH) on 13 February, industrial output rose a working-day adjusted 4.5% year-on-year in December, accelerating from the 3.6% expansion observed in November.